STATEMENT: INFLATION REDUCTION ACT OF 2022 IS A HISTORIC INVESTMENT IN AMERICA’S FUTURE & SHOULD BE PASSED IMMEDIATELY

FOR IMMEDIATE RELEASE 
July 28, 2022

Contact: 
Jack Miller, Communications Director
[email protected]

STATEMENT: INFLATION REDUCTION ACT OF 2022 IS A HISTORIC INVESTMENT IN AMERICA’S FUTURE & SHOULD BE PASSED IMMEDIATELY

New Bill Will Make Huge Investments in Climate and Lower Costs for Americans 

WASHINGTON, D.C. — Yesterday, Senate Majority Leader Chuck Schumer and Senator Joe Manchin announced a new deal on a reconciliation bill, the Inflation Reduction Act of 2022. Following the announcement, President Joe Biden gave his support for the bill, which would lower costs for American families and combat inflation.

Invest in America senior advisor Zac Petkanas issued the following statement:

“This agreement is nothing short of historic, making substantial investments to fight inflation and lower costs for families.

“The bill would make prescription drugs cheaper by allowing Medicare to negotiate prices; it would lower health insurance costs for 13 million Americans by an average of $800 a year; it would create thousands of clean energy jobs while lowering household energy costs; and it would require corporations that ship jobs overseas to pay more in taxes – all while not raising taxes one dime for anyone making under $400,000 a year. This is an all-around win for working families.

“This agreement is the action the American people have been waiting for. We urge the Senate and House to pass this agreement as soon as possible. Let’s get this done.”

About Invest in America

Invest In America is a national rapid response operation advocating for robust public investment to rescue the economy from the COVID crisis and create prosperity for the future, and to fight back against fear-mongers who use deficit concerns as a scapegoat to starve American communities and businesses of resources.

The operation consists of two components: Invest in America, the charitable and public education arm, which is a fiscally sponsored project of Economic Security Project funded by the William and Flora Hewlett Foundation and Economic Security Project co-chair Chris Hughes; and Invest in America Action, the advocacy and social welfare arm, which is a fiscally sponsored project of Economic Security Project Action funded by Chris Hughes and the Omidyar Network.

Learn more at InvestInAmericaNow.com and @InvestNowUSA, and InvestinAmericaProject.com.

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